Read? Time is your bff for retirement planning
How much you’ll need
A good rule of thumb is the replacement rate (or replacement ratio), which is calculated in this way:
Replacement rate = income after you retire / income before you retire
The recommended replacement rate varies from around 60 to 80%.
Hmm ....
It looks like Uncle8888 has to deploy his war chest sooner to catch up with the recommended replacement rate towards the higher end.
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